Market Overview for Bella Protocol/Tether (BELUSDT) – 24-Hour Analysis

• Price surged from 0.2448 to 0.251 over 24 hours, forming a bullish breakout pattern.
• High volatility seen between 12:15–13:45 ET with a sharp correction following.
• Volume and turnover spiked during the rally but diverged during the pullback.
• RSI hit overbought territory, suggesting possible retracement.
• Bollinger Bands expanded during the upswing and contracted during the sell-off.

Bella Protocol/Tether (BELUSDT) opened at 0.2448 on 2025-10-06 12:00 ET and reached a high of 0.251 during the session, closing at 0.2493 on 2025-10-07 12:00 ET. The pair traded within a range of 0.2448–0.251, with a total volume of 1,436,539.8 and a notional turnover of $358,274.35 over the 24-hour period.

Structure & Formations

The price formed a bullish breakout pattern from a descending triangle, breaking above the 0.2487–0.2493 resistance level between 12:15–12:45 ET. A bearish engulfing pattern emerged at 0.2510, signaling potential exhaustion in the short-term upswing. A doji formed at 0.2465 around 15:45 ET, indicating indecision among traders. Key support levels include 0.2451 (broken), 0.2437, and 0.2416, while resistance levels at 0.2486, 0.2493, and 0.2507 appear relevant for the next 24 hours.

Moving Averages and Momentum

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA (golden cross), supporting the bullish trend early in the session. However, by late afternoon, the 20-period SMA fell below the 50-period SMA as the price corrected. MACD showed a positive divergence during the morning rally but turned negative by 14:00 ET. RSI spiked above 70 mid-day, indicating overbought conditions, and fell into oversold territory by 16:00 ET, suggesting possible rebound potential.

Bollinger Bands and Volatility

Bollinger Bands expanded significantly during the 12:15–13:45 ET window, indicating heightened volatility during the breakout. Price remained above the 20-period moving average until the correction, where it dropped below the lower band at 0.2448. A contraction in band width was observed between 14:00–15:30 ET, signaling a potential pause before the next directional move.

Volume and Turnover Analysis

Volume surged during the breakout, reaching a peak of 258,974.6 units at 13:45 ET, followed by a sharp sell-off. Turnover spiked to $64,099.10 during this period. Divergence was evident between price and volume during the pullback, with lower volumes supporting bearish sentiment. The morning rally was confirmed by strong volume, while the afternoon sell-off saw mixed volume patterns, suggesting mixed sentiment.

Fibonacci Retracements

Applying Fibonacci retracements to the 0.2448–0.251 swing, the 0.2479 level (38.2%) and 0.2466 level (50%) acted as minor support/resistance points during the afternoon correction. The 0.2455 (61.8%) level was broken mid-day, indicating a deeper correction could occur if bearish momentum continues.

Backtest Hypothesis

Given the recent pattern of a breakout followed by a retracement, a potential backtest strategy involves entering long near the 0.2466 Fibonacci level with a stop below 0.2451 and a target at 0.2493–0.2507. Alternatively, shorting after the bearish engulfing pattern with a stop above 0.2493 could capture the correction. This strategy aligns with the morning MACD and RSI signals, where divergence was observed before the pullback.